Yesterday I posted my investment lessons in the 2013 Year in Review (Part 1). Part 2 is some other odds and ends from the year that was. Enjoy.
“Perseverance is not a long race; it is many short races one after another.” – Walter Elliott These are my investment lessons and takeaways from an interesting year in 2013.
Josh Brown has a terrific piece up today at The Reformed Broker that summarizes the lessons learned in 2013 by people from all over the world of finance and media.
“Simplifying is generally the strategy of people who view the world in terms of systems.” – Scott Adams
“Recognizing that the amount of confidence someone expresses in a prediction is not a good indicator of its accuracy – to the contrary, these qualities are often inversely correlated. Danger lurks, the in the economy and elsewhere, when we discourage forecasters from making a full and explicit account of the risks inherent in the world…
“Become more humble as the market goes your way.” – Bernard Baruch
“In the short term the impact of costs may appear modest, but over the long run, investment costs become immensely damaging to an investor’s standard of living. Think long term!” – John Bogle
“Every dollar you spend is a vote for what you value in life.” – Anonymous “I like the fundamental tenets — do unto others as you would have them do unto you, try to be a good citizen, do what’s right for the people around you.” – John Bogle
“Opinion is ultimately determined by the feelings, and not by the intellect.” – Herbert Spencer
“One half of your return is determined by your investments, the other half by what kind of person you are.” – John Bogle